Stablecoin payments company Triple-A has confirmed that unauthorized access to its treasury wallets resulted in the loss of company-owned digital assets. The Singapore-based firm said it detected the intrusion on Saturday and briefly moved some services into maintenance mode for around three hours while it secured the affected systems.
According to the report, Triple-A did not say how the wallets were compromised or provide its own loss estimate. Onchain investigator Specter had previously put the figure at about $11.8 million. The company said the incident was limited to specific operational accounts and would be covered by its treasury reserves.
Triple-A emphasized that customer funds were not impacted because it does not hold digital assets on behalf of clients. Instead, client balances are kept separately in trust accounts with safeguarding institutions. The firm said all services have since been restored and that transactions and settlements are processing normally.
The company also said it is working with cybersecurity specialists, blockchain forensics firms and authorities, including the Singapore Police Force, as it investigates the breach, traces the assets and supports recovery efforts.
Source: cointelegraph.com
